State of Illinois
91^st General Assembly
Public Acts

Public Act 91-0595

SB932 Enrolled                                 LRB9105673PTmg

    AN ACT to  amend  the  Bond  Issue  Notification  Act  by
changing Sections 10, 15, and 30.

    Be  it  enacted  by  the People of the State of Illinois,
represented in the General Assembly:

    Section 5.  The Bond Issue Notification Act is amended by
changing Sections 10, 15, and 30 as follows:

    (30 ILCS 352/10)
    Sec. 10.  Hearing requirements.  Notwithstanding  and  in
addition  to  any  other  law,  before  adopting an ordinance
selling non-referendum general obligation  bonds  or  limited
bonds,  the governing body of the governmental unit proposing
to sell the bonds shall hold  at  least  one  public  hearing
concerning  the  governing  body's  intent to sell the bonds.
The governing body or the presiding officer of the  governing
body  shall  set the date, time, and location of the hearing.
The This hearing may be part of a regularly scheduled meeting
of the governing body.
(Source: P.A. 89-655, eff. 1-1-97.)

    (30 ILCS 352/15)
    Sec. 15. Notice requirement.  The clerk or  secretary  of
the  governmental unit shall publish notice of the hearing at
least once in a  newspaper  of  general  circulation  in  the
governmental  unit  not  less than 7 nor more than 30 21 days
before the date of the hearing.  The  notice  shall  also  be
given  by posting at least 48 hours before the hearing a copy
of the notice at the principal office of the  governing  body
or,  if  a  principal  office  does  not  exist,  then at the
building in which the hearing is to be held not be placed  in
the  legal notice or classified advertisement sections of the
newspaper.  The notice, which shall appear above the name  of
the  clerk  or  the  secretary, shall be in substantially the
following form:
         The ...... (governmental entity) will hold a  public
    hearing on ... (date) at ... (time).  The hearing will be
    held  at  ..........  (location).   The  purpose  of  the
    hearing  will  be  to  receive  public  comments  on  the
    proposal  to  sell  bonds in the amount of $.... (amount)
    for the purpose of ......... (state purpose).
(Name of clerk or secretary of governmental unit) ...........
    Any notice that excludes that information shall be deemed
invalid.   Governmental units issuing non-referendum  general
obligation   bonds  or  limited  bonds  subject  to  backdoor
referendum under applicable law may publish one  notice  that
includes both the information required by this Section and by
the backdoor referendum provision.
(Source: P.A. 89-655, eff. 1-1-97.)

    (30 ILCS 352/30)
    Sec.   30.  Exemptions.    Governmental  units  that  are
issuing either (i) refunding  general  obligation  bonds,  or
(ii)  refunding  limited bonds, or (iii) special service area
bonds are not required to comply with the provisions of  this
Act.
(Source: P.A. 89-655, eff. 1-1-97.)

    Section  99.  Effective date.  This Act takes effect upon
becoming law.